The insurance industry in Africa represents less than one percent of insured catastrophe losses worldwide, although it’s home to almost 17 percent of the global population. However, despite the low levels of insurance uptake, there continues to be increased interest and focus from major international brokers, insurers and reinsurers. In 2017, the value of insurance premiums in Africa amounted to almost 45 billion U.S. dollars.
Major Western insurance firms have more recently begun to especially pay attention to the increasingly attractive sub-Saharan African insurance industry. From 2014 to 2018, Zambia, Nigeria, Ghana, and Uganda recorded some of the highest growth rates within the insurance industry in Sub-Saharan Africa.
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In the following 4 chapters, you will quickly find the 21 most important statistics relating to "Insurance industry in Africa".